TORONTO, Ont. — Hydro One and Ontario Power Generation have announced the launch of a new company, which will create the province’s most connected electric vehicle fast-charger network.

Ivy Charging Network will have 160 level-3 fast-chargers at 73 locations across the province by the end of 2021, the two companies said Friday.

The charging stations will help alleviate “electric vehicle range anxiety” as Ivy’s locations will be less than 100 kilometres apart on average, they said.

“This fast-charger network will create a better and brighter future through a greener transportation sector while meeting the evolving energy needs of our customers and all Ontarians,” said Imran Merali, vice-president of customer service at Hydro One, and co-president of the new company.

“By entering this growing market in partnership with OPG, Hydro One is expanding our product and service offering to deliver greater value for our customers, employees, communities and shareholders.”

Natural Resources Canada (NRCan), through its Electric Vehicle and Alternative Fuel Infrastructure Deployment Initiative (EVAFIDI), provided $8 million in repayable contribution to Hydro One and OPG to help build the network.

Ivy has chosen Greenlots, a member of the Shell Group and leader in electric vehicle charging and management solutions as its service provider to operate and manage the network.

Ivy is a limited partnership with equal ownership between Hydro One and OPG.

As an unregulated business, it can provide a new revenue stream for both companies while not affecting Ontario electricity rates, they said.